SembCorp Industries is currently trading in Elliott Wave C. Base on currently chart pattern, SembCorp is likely to head towards $3.545 (50% Gann level) after the 61.8% Fibonacci Support level at about $4.00 (also the psychological level) is broken. This $4.00 is a tough resistance to break at the moment. So, I am expecting more downside to the next support in the coming days or weeks.
SembCorp Marine is taking a breather after the recent sharp fall. The trading range is getting tigher between $3.90 (20D MA Resistance & 61.8% FR Resistance)) and $3.65 (past 3 low recently). This $3.65 is very significant resistance turned support. Previous reisstance between June to Oct 2010 period. Breaking this $3.65 support will send SembMar to next immediate support of $3.365 (50% Gann Level).
SGX is currently trading within the down trend channel. A tough resistance is seen at $7.06 which is the support turned resistance level. It is expected SGX to continue the down trend and get near to the down trend support or $6.16 which is the 38.2% Fibonacci Support Level.
